The next tax return is already in play. Between renovations, purchases, donations or mortgage payments, the last part of the year offers the possibility of maneuvering to reduce the potential tax bill by paying off the dreaded personal income tax.
In the game there are no big news about the previous year, but there are some new windows that may pay off. In June, a deduction plan was announced if you buy an electric car for less than 45,000 euros. It will allow 15% of the acquisition value to be deducted, with a maximum amount of 20,000 euros. Another 15% may be added if a charging structure is built, with a maximum of 4,000 euros. “It can now be applied to the 2023 income,” comments Xavier Masdéu, member of the board of the Associació Professional de Tècnics Tributaris de Catalunya i Balears (APttCB). Taking into account the cost to access the deduction, it is suitable for those who were already considering buying an electric vehicle or who were looking for another technology, tipping the balance.
Reforms to achieve greater energy efficiency are others that offer more margin, explains Marta Rayaces, tax expert at TaxDown. There are deductions of up to 20% and 5,000 euros if the demand for heating and cooling falls by 7% with the reform. They are up to 40% and 7,500 euros for the reduction of one third of the consumption of non-renewable energy, or if an energy certificate A or B is achieved. For works on buildings that reduce their non-renewable consumption by one third, a deduction is eligible. of 60% and 5,000 euros. First of all, you must ensure that the work will reduce consumption by the required amount. It must be completed and certified before December 31, so if it is underway today it is time to speed up the deadlines.
And above all, do not make the mistake of forgetting to ask for a certificate before starting, another requirement for comparing consumption. Rayaces explains cases that are left without a deduction due to not having the first certificate. You must also keep invoices and payment receipts.
Investment in start-up companies is another powerful point. The deduction percentage is 30% disbursed, with a maximum deduction base of 60,000 euros. More common is to seek savings by offsetting losses and gains. “It can reduce taxation substantially,” Ra yaces highlights. When doing this type of operation you have to imagine that there are two big boxes, he says. One, the tax base of savings. This includes housing, stocks or cryptocurrencies, for example. The other is the general tax base, where there are profits from aid, for example. When crossing instruments, limits arise, so the simplest thing is to counteract products of the same type, such as selling shares that will close in losses to offset the tax bill of others that have made a profit. “Many people carry out operations,” comments the expert. It must be remembered that losses can be compensated in the following four years, so if any are carried forward, their validity should be reviewed.
The contribution to pension plans does not change: the deduction reaches 1,500 euros in personal plans and 8,500 in company plans. In these months you can complete the contribution up to the limit. “It is not a gift, it is a deferral of taxation. When you rescue it, you pay taxes,” warns Masdéu in any case.
There are no new developments in the home either. Those who take advantage of the transitional regime with properties prior to 2013 can pay mortgage payments up to the limit of 9,040 euros, to which a 15%-16.5% deduction is applied. “Fewer and fewer people are in a position to do so,” says Masdéu. If you enter the regime, he recommends not canceling the mortgage and maintaining it to continue enjoying the deduction, “as long as the interest does not skyrocket.”
The advice is repeated for donations: contribute up to the limits in the time left. Generally, 80% is deducted for the first 150 euros, and then it is reduced to 35%-40%. “We must check that they are correctly registered as public utility entities and notify the Treasury of the donation,” warns Masdéu. Those made to parties and unions also deduct taxes, but less: they range from 20% to 35% depending on the case.
To look for more opportunities, you can review the regional deductions now, and not when filing the declaration, when it would be too late.
